, J.

1. This application filed by the Registrar of Companies, Punjab and Himachal Pradesh, under Clause (e) of Sec.433 read with Sec.439 of the Companies Act, after obtaining the previous sanction of the Central Government is for winding up of the Rohtak Hissar Transport Company (Private) Ltd. (hereinafter referred to as the company) on the ground that, as disclosed in its balance-sheet ending 30th of June, 1962, the company is unable to pay its debts. The application was resisted, inter alia, on the ground that the companys position was sound and, in particular, after the demise of its previous managing director, the company has been put on a sound basis because the shares were now held by the members of the same family, being two brothers and their mother, that there were no longer any dissensions amongst the shareholders and that the expenses have been cut down and all the creditors are quite satisfied with the present working of the company which has started showing profits. It was further prayed that the citations may not be issued because that would adversely affect the credit of the company in the market. An undertaking was given on behalf of the company that it will